04 MAY 2016Shanghai Metals Market
China turns to Guinean bauxite against Malaysia ban
Edited by : AL CIRCLE
1 min read
Chinese buyers have turned to Guinea for bauxite after Malaysia extended ban on bauxite mining by another three months.
Imports from Guinea soared 189 per cent month-on-month to 937,000 tonnes in March, of which 93.7 per cent were imported by China Hongqiao Group alone, customs data showed.
Some alumina producers in Shandong resumed production after alumina prices rebounded, boosting demand for imported bauxite. With more alumina producers restarting idled capacity, China’s bauxite imports will continue growing in the future, SMM expects.
According to China Customs, China imported 5.11 million tonnes of bauxite in March, up 58.6 per cent from February and 16.08 per cent from a year ago. Average CIF price of China’s bauxite imports was $47.54 per tonne in March, down 14.3 per cent year-on-year and 4.8 per cent month-on-month.
Imports from Guinea soared 189 per cent month-on-month to 937,000 tonnes in March, of which 93.7 per cent were imported by China Hongqiao Group alone, customs data showed.
Some alumina producers in Shandong resumed production after alumina prices rebounded, boosting demand for imported bauxite. With more alumina producers restarting idled capacity, China’s bauxite imports will continue growing in the future, SMM expects.
According to China Customs, China imported 5.11 million tonnes of bauxite in March, up 58.6 per cent from February and 16.08 per cent from a year ago. Average CIF price of China’s bauxite imports was $47.54 per tonne in March, down 14.3 per cent year-on-year and 4.8 per cent month-on-month.
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